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17 August 2023

Daily Newsletter

17 August 2023

VCU Health and Anthem renew affordable healthcare partnership

The agreement covers VCU Health's hospitals, facilities and physicians within Anthem's network.

August 17 2023

US-based academic medical centre VCU Health has renewed its multi-year agreement with Anthem Blue Cross and Blue Shield, a group that provides health insurance plans.

Intended to provide access to affordable healthcare for Anthem members, the partnership covers VCU Health's hospitals, facilities and physicians within Anthem's network.

In addition to this partnership, the organisations are working to enhance digital connectivity to simplify processes, as well as collaborating on value-based programmes and innovative care delivery models.

They are also continuing their work with the Feed More food bank in Central Virginia through VCU Health's Food is Medicine programme, which aims to reduce hunger among patients facing food insecurity.

VCU Health Sciences interim senior vice-president and VCU Health System interim CEO Marlon Levy said: "We hold our partnership with Anthem in high regard, and we are delighted to forge a fresh agreement that expands our collaboration, ensuring uninterrupted access to high-quality healthcare for Anthem customers."

Anthem members on various plans, including employer-based, Health Insurance Exchange, Medicaid and Medicare Advantage plans, will be covered by the new agreement.

Anthem Blue Cross and Blue Shield president Monica Schmude said: “We are pleased to have reached an agreement that continues to make quality healthcare accessible for our members across the commonwealth of Virginia.

“We value our collaborative relationship with VCU Health as we work together to tackle healthcare affordability and improve lives and communities for the thousands of Virginians we mutually serve.”

In December 2021, Anthem Blue Cross and Blue Shield signed an agreement with Emory Healthcare to allow Anthem members on various plans access to Emory Healthcare facilities.

Since 1 January last year, Anthem HMO, POS, Pathway, HPN, PPO and Medicare Advantage members have had access to Emory's 11 hospitals, eight ambulatory surgery centres, six outpatient rehabilitation centres and five dialysis centres.

Digital transformation of the healthcare industry is driving the demand and development for precision and personalized medicine

Per GlobalData estimates, the precision and personalized medicine market is expected to achieve a CAGR of more than 43% between 2022 and 2029. The digital transformation of the healthcare industry is driving the market demand. For example, advances in biomarker testing with NGS are improving patient selection, use of AI in identifying trends in big datasets is accelerating the time from drug discovery to commercialization, and the use of Industry 4.0 technologies is improving the quality and efficiency of manufacturing complex drugs such as cell and gene therapies.

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